PROPERTY developer Andrew Smith was last night on the verge of buying Wrexham FC after agreeing a deal with owner Alex Hamilton.

Mr Smith said provided the administrator was happy with the deal, and current owner Alex Hamilton settled a legal dispute with former chairman Mark Guterman, the agreement would be rubber stamped within 21 days.

The businessman said the remaining hurdles were merely procedural and insisted he would be confirmed as the League One club's new owner.

He is thought to have originally offered Hamilton more than #2.5m for both the club and Wrexham's Racecourse ground.

Mr Smith yesterday confirmed he had upped his offer in a bid to end the protracted negotiations with Hamilton, but he refused to reveal the new price.

He said he was "delighted" and was looking forward to working with the club's management and its supporters. "There are now just procedural things that need to be gone through, but I don't foresee any problems," Mr Smith said.

The move comes after a year of uncertainty as Wrexham grappled with debts of around #2.5m.

Mr Smith, who runs property development company United Plotowners Association, first emerged as a likely buyer when Wrexham went into administration on December 3.

Directors, fans and manager Denis Smith, have all made positive noises about his possible takeover.

The businessman has assured fans he intends to keep the club at the Racecourse and will partially develop the Kop End for housing to improve Wrexham's financial position - an idea first mooted by the Supporters' Trust.

Mr Smith said: "They will remain at the Racecourse and there is nothing untoward in the deal."

Mr Hamilton, who has faced a series of protests over his plans to move to the outskirts of Wrexham, last night issued a joint statement with Mr Smith.

It read: "We are delighted to announce that agreement in principle has been reached to acquire all of Mr Hamilton's interests in Wrexham AFC and related Freehold Properties.

"The agreement is subject to contract and it is intended that contracts will be exchanged within 21 days from today. The agreement will also be subject to approval by the creditors of Wrexham AFC, which is currently in the hands of administrators.

"This will take several weeks, but, if the arrangements and proposals are agreed by the relevant parties, Mr Smith believes they will ensure the future of Wrexham AFC at the Racecourse for the foreseeable future.

"Both parties look forward to this process being concluded as swiftly and efficiently as possible, so that the manager and players at Wrexham AFC can concentrate on their "on the field" performance in order to ensure that League One survival is secured this season and the team can build for a successful future."

A succession of other names and groups have been linked with a Dragons' buy-out.

Mr Guterman had an offer of around #2.5m rejected as did the Supporters' Trust, while ex-Leeds United chairman Peter Ridsdale met Wrexham Council officials over a possible joint take-over.

Ex-professional footballer turned businessman Peter Bullivant was also linked with an offer.

Mr Hamilton was planning to evict Wrexham FC on July 21 if a buyer could not be found.

Welsh sports minster Alun Pugh said: "Any deal that secures the future of the Racecourse ground as a venue capable of hosting international football and rugby matches must be good news. A good deal of public money has been invested in the stadium and I am anxious that this investment is safeguarded."

The news reached former Wrexham directors, manager Denis Smith, and his players, en route to last night's LDV Vans Trophy Northern Area semi final against Hereford United.